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this post was submitted on 22 Dec 2025
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Shit, I just did this calculation on an alt.
I compared the minimum wage and purchase price of my home when I bought it versus when the previous owner bought it
Compared to
House prices increased at 3x the rate of wage growth
Yeah, this chart says it all:
And it's only going to widen for the foreseeable future due to historically low inventory and slowdown of new homes being built. Plus you now have to compete with venture capital buying up homes in any area with a competitive job market. And there's also the tricky dilemma with interest rates- the currently high rates make mortgages more expensive, but when they lower demand will skyrocket and inflate real estate prices.
We may have to find places with permissive zoning code, and build stuff with less embodied energy that's intended for higher density.
I make like 17.50/hr. Im a chef
My dad said some shit about 1977 or 1978 being the worst year for the economy ever
Minimum wage in 1977 was something like only 20% less effectively than what Im being paid now. For somewhat skilled labor.
Minimum wage jumped up 10% in 1978 too